The last time we covered SWK Holdings Corp (PINK:SWKH) it had yet to find the perfect acquisition candidate. In case you are wondering whether the search is over, rest assured because there seems to be no end in sight.
The month of December marks the second anniversary of SWKH’s latest transaction. Indeed, the company sold virtually all of its assets two years ago pledging to find a suitable acquisition candidate to maximize shareholder value. However, when exactly such a scenario will take place was and still remains anyone’s guess.
Nevertheless, investors do not seem to have forgotten about the existence of SWKH. On the contrary, the company’s stock has been enjoying consistent trader interest. Yesterday, in particular, SWKH closed at $0.80, up 4% from Tuesday. What is more, approx. 980 thousand shares of common stock changed hands which is the highest turnover SWKH has generated since Jan. 13, 2011.
At least, SWKH has done its best to keep a transparent financial profile, which, considering its current situation, is hardly a challenging task. As you might have thought, the third 10-Q report for 2011 barely differs from the previous one, except for the fact that SWKH’s cash reserves of $38.8 million have shrunk by some $300 thousand.
At present, the only signs of life SWKH has been giving appear to be its regular financial reports. Thus, the company continues to test the limits of stockholders’ patience. Once it has succeeded in finding a viable opportunity to invest its cash reserves, the company’s business operations will intensify considerably. When? Better late than never.
